Spain is said to mull blocking IFM’s €5bn Naturgy bid ...Qatar

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Spain is said to mull blocking IFM’s €5bn Naturgy bid
source : Gulf Times ( Qatar ) () 7
The Spanish government is leaning towards blocking an attempt by an Australian asset manager to purchase a significant stake in Madrid-based Naturgy Energy Group SA, a leading utility that’s deemed a strategic asset. Approving IFM Global Infrastructure’s €5bn ($6bn) bid to buy a 22.7% stake in Naturgy would mean handing over control of a vital company to a group of foreign investors at a time of exceptional economic difficulty, according to a person familiar with the government’s thinking. The economic impact of the pandemic means special safeguards are needed to protect national companies and knowledge, as demonstrated by recent decisions by France, said the person, who asked not to be ide

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